CTY The City of London Investment Trust plc

The City of London Investment Trust aims, to provide long-term growth in income and capital, principally by investment in UK equities, with a bias towards large, multinational companies. The Board fully recognises the importance of dividend income to shareholders. The trust provides UK investors with exposure to global growth through the portfolio’s overseas revenues. It has a conservative management style that prioritises sustainable income and long-term capital growth.

The Company was formed in 1860  to acquire Calverts, a family brewing business in the City of London. It registered as a limited company on 26 September 1891. Since 1932, it has been investing in securities according to investment trust principles and is one of the UK’s oldest investment trusts.

The fund manager is Job Curtis, Director, Global Equity Income. He joined the asset management industry in 1983 and has been with Janus Henderson since 1987. Job has managed the trust since 1991.

The deputy fund manager is David Smith. He joined the asset management industry in 2002 and has been with Janus Henderson since 2002.

The trust's investment benchmark is the FTSE All Share Index. The trust’s Net Asset Value and share price total returns have outperformed the Benchmark over 10 years^[1].

^[1] Source: Janus Henderson, The City of London Investment Trust Fact Sheet. Updated quarterly.

The Association of Investment Companies (AIC) classifies trusts into sectors as a way of grouping companies with common characteristics. The classifications are based on a combination of the trust's regional or industry focus, and its investment objective. The City of London Investment Trust is classified within the ‘UK Equity Income' sector.

As of 31st August 2022, the Trust had total assets of £1.94B under management.

Source: Janus Henderson, The City of London Investment Trust plc factsheet. Updated quarterly.

Proposed dividend payment date(s): February, May, August and November.

Each year, the Association of Investment Companies (AIC) publishes its list of 'Dividend Heroes', the investment companies which have increased their dividends for 20 or more years consecutively. There are currently 20 Dividend Hero investment companies. The City of London Investment Trust has increased its dividends for 55 consecutive years.

The trust has received an overall rating of ★★★★ by Morningstar. The trust's analyst rating is Silver.

The management fee is 0.325% pa of net assets.

For general insight into the Trust please see the latest Kepler commissioned research: 2022 research note.

This research gives general insight into the background of the Investment Trust, and the investment strategy with which it is run. In addition to this it outlines the Trust’s objectives and provides updates from the Fund Manager, as well as recent performance data.